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Local-nonsatiation


Definition

Local-nonsatiation
MWG- Definition 3.B.3
The preference relation on X is locally nonsatiated if for any x X and every > 0, there is y X such that || y - x || and y x.


It is a weaker desirability assumption than monotonicity.


Interpretation

For any consumption bundle , within any small distance away from x, there is another bundle that is preferred to x.


Proposition

The local nonsatiation and monotonicity rules out (exclude) "Thick" indifferent set.
Or that there is not a distance a that exists || y - x || a and y x.


Note


Example